Present Entries to Record the Following Selected Transactions of Masterson

question 33

Essay

Present entries to record the following selected transactions of Masterson Co.Aug. 1Purchased 600 shares of the 100,000 shares outstanding $10 par common shares of Dankin Corporation for $5,100.1Purchased 3,500 shares of the 10,000 shares no par common shares of Ramon Co. for $45,700. The investment was accounted for by the equity method.Sept. 1Received a cash dividend of $1 per share on the Dankin Corporation stock acquired on August 1.1Received a cash dividend of $2 per share on the Ramon Co. stock acquired on August 1.Dec. 31Sold 100 shares of the Dankin Corporation shares acquired on August 1 for $2,100.31Dankin Corporation reported net income of $30,000 and Ramon Company's reported net income was $50,000.​

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Definitions:

Peripheral Nervous System

The part of the nervous system outside the brain and spinal cord, comprising nerves that connect the central nervous system to limbs and organs, essential for relaying sensory and motor information.

Myelin

A fatty substance that surrounds the axons of many neurons, acting as insulation to speed the transmission of electrical impulses.

Myelin

A fatty substance that surrounds and insulates the axons of many neurons, enabling faster transmission of electrical signals.

Nerve Impulse

An electrical signal that travels along the nerve fibers, facilitating communication between neurons or between neurons and muscles.